Top UK equity income managers have been cutting their weighting in tobacco stocks as concerns over earnings momentum and new rules on plain packaging put pressure on share prices.
The euro has fallen below the $1.30 barrier against the dollar, as Sunday's European election hangover continues to unsettle investors.
Société Générale strategist Albert Edwards has warned investors who own Australian government debt they face the 'mother of all hard landings' if China's economy slows down as they expect.
Australia is offering better opportunities than Asia for income investors, according to Jason Pidcock, manager of the £1.8bn Newton Asian Income fund.